# The Payment Services Regulations 2017, Regulation 111: Financial penalties


(1) The FCA may impose a penalty of such amount as it considers appropriate on—
(a) a payment service provider who has contravened a requirement imposed on them by or under these Regulations; ...
(aa) an authorised payment institution, small payment institution, or registered account information services provider who has contravened a requirement imposed on it by or under section 312R of the 2000 Act; or
(b) a person who has contravened regulation 138(1) (prohibition on provision of payment services by persons other than payment service providers), 139(1) (false claims to be a payment service provider or exempt) or 142(1)(a) or (2) (misleading a regulator).
(2) The FCA may not in respect of any contravention both require a person to pay a penalty under this regulation and cancel their authorisation as a payment institution or their registration as a small payment institution or account information service provider (as the case may be).
(3) A penalty under this regulation is a debt due from that person to the FCA, and is recoverable accordingly.

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Source: https://www.legislation.gov.uk/uksi/2017/752/regulation/111 (the official version)
Page: https://openlegislation.uk/payment-services-regulations-2017/regulation-111
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.